Buy Mercator Lines at a target of Rs 70: Shardul Kulkarni

India Infoline and Mercator Lines on the charts...Also, shipping stocks on the charts?

Shardul Kulkarni: Mercator Lines or in fact all the shipping counters we are seeing that good momentum is building up so Mercator Lines is one stock that we expect in probably around the next 4 to 5 weeks you might see the stock moving to around 64 overall we have a target of around Rs.70 but yes of course that is around 4 months time frame but we are quite bullish on Mercator Lines. We are also seeing that Shipping Corporation of India is also showing the good moves so we are hopeful that the shipping stocks give you good moves going forward.

Stop loss for Mercator Lines on the downside will be at around 54 levels. Other than brokerage stocks are also doing good so one of the stocks that we recommended is India Infoline we like the stock. We are expecting a target price of around 125 in the next 4 to 5 weeks.